Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned an average rating of “Reduce” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $2.31.

BLDP has been the subject of a number of recent research reports. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Raymond James reduced their target price on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday. BMO Capital Markets cut their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research report on Friday. CIBC cut their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. Finally, National Bankshares cut their price target on shares of Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating on the stock in a research report on Friday.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. First Commonwealth Financial Corp PA acquired a new position in Ballard Power Systems in the 3rd quarter valued at about $27,000. Raymond James Financial Inc. acquired a new position in Ballard Power Systems in the 4th quarter valued at about $27,000. Toronto Dominion Bank grew its stake in Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after buying an additional 20,949 shares during the last quarter. Headlands Technologies LLC acquired a new position in Ballard Power Systems in the 4th quarter valued at about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after buying an additional 10,767 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $1.32 on Monday. The business has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.55. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The stock has a market cap of $395.26 million, a price-to-earnings ratio of -1.20 and a beta of 1.75.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.